"Markets are bouncing, and can bounce further but the clouds on the horizon are dark, and they're real," Kit Juckes, strategist at Societe Generale, said in a note on Tuesday.
"There's a pattern for Monday mornings to extend moves of the previous week before Tuesday sees everyone take stock," he added.
The dollar index, which tracks the greenback against a basket of major currencies, declined early on Tuesday, after four days of gains. Similarly, U.S. Treasury bond yields rose and gold traded lower, as the surge in "safe-haven" trades that followed the U.K.'s "Brexit" vote waned.
In economic news, the final revision on first-quarter U.S. GDP came in at 1.1 percent versus the prior read of 0.8 percent.
The S&P/Case-Shiller 20-City Composite Index rose 5.4 percent year-over-year in April.
Other data due for release include consumer confidence.